Atelier has completed a £11.6m loan, structured at 63% loan-to-value (LTV), to fund a 75-bed care home in Stafford.
The loan, structured over a 24-month term, will support the ground-up construction of a purpose-built care facility.
This is the fourth deal that Atelier has completed with their borrower, a seasoned care home provider.
The new development will provide 75 beds with en-suite wet rooms in a purpose-built care facility, delivering much needed care accommodation to serve the community.
Demand within the later living sector in England is only set to rise.
A recent report from Staffordshire council revealed that Staffordshire’s population aged 65 and over will outpace the national average, and comprise 27% of the county’s population by 2041.
Rav Kudhail, lending director at Atelier, said: “This is our fourth transaction with our borrower. We supported the original site acquisition and are now funding the development of their new purpose-built care home.
“Through the relationship we’ve built, we’ve developed a tailored lending framework that enables them to act quickly on new site acquisition opportunities and efficiently structure their development funding.”
